The success of the hospitality industry and development of RM as a profession depends on the quality of new candidates. However, formal hospitality and business education and training programs concerning pricing and RM are far from providing the maximum level of competency for an extensive RM career development. Therefore, the goal of this study is to determine the challenges of RM and to address the gaps in hospitality and tourism education. Further aims of the current research include suggesting some enhancements to RM curriculum. To answer research questions, an online survey was sent to 423 HSMAI members that are listed as revenue staff. A total of 34 RM challenges were identified. The most important RM challenges were (1) finding qualified revenue staff, (2) economic instability, (3) owner pressure on budget and prices, (4) unstable demand, and (5) competition. Formal RM education in tourism and hospitality might be improved under the light of the findings suggested in this study.